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- Release Date: 22/05/12 13:34
- Summary: ALLOT: NZO: Issue of Securities - Employee Share Plan
- Price Sensitive: No
- Download Document 1.95KB
NZO
22/05/2012 11:34
ALLOT
REL: 1134 HRS New Zealand Oil and Gas Limited
ALLOT: NZO: Issue of Securities - Employee Share Plan
Announcement in terms of NZX Listing Rule 7.12.1
Please be advised of an issue of securities as follows:
(a) Class of Security: ordinary shares (partly paid and not listed).
(b) Number issued: 150,000 ordinary shares (partly paid and not listed).
(c) The issue price: 150,000 shares at $0.898 per share.
(d) Payment was in cash to 1 cent per share.
(e) The shares are partly paid to 1 cent per share. The balance of the issue
price is due in accordance with the terms of the issue set out in (i) below.
(f) The percentage of the total class of securities issued: 1.4% (of the non
listed partly paid shares).
(g) The reason for issue: allocation of shares to an eligible employee under
the terms of the Employee Share Ownership Plan (ESOP). The price is set at a
premium over the market at the time the allocation was awarded. Issue has now
been completed following finalisation of the terms of issue.
(h) The specific authority for the issue: Pursuant to Listing Rule 7.3.6.
(i) The terms or details of the issue: The new shares are issued to and held
by the trustee of the ESOP. The shares remain registered in the name of the
trustee until the balance of the issue price is paid in accordance with the
ESOP rules. Terms of issue provide that final payment will take account of
the market value of the ordinary shares at that time resulting in a potential
reduction in the issue price from the amounts stated above. Full rights to
the new shares attach when the balance of the issue price is paid. The shares
are held in escrow for two years and cannot be dealt with during that period.
(j) Total number of securities in this Class after the issue: 392,947,295
listed ordinary shares and 9,520,000 partly paid shares.
(k) n/a
(l) Date of issue 22 May 2012.
Ralph Noldan
Company Secretary
End CA:00223121 For:NZO Type:ALLOT Time:2012-05-22 11:34:50
